While the cryptoverse is still reeling from the $1.5 billion Bybit hack, its peers have launched a concerted effort to recover looted funds. A Bybit statement confirms that the coordinated effort led to the freezing of nearly $43 million barely two days after the jarring security breach.
Exchanges Team Up To Recover Funds
According to Bybit’s X post, a total of $42.85 million have been frozen across a handful of exchanges in the wake of the attack. Decentralized exchange THORChain blacklisted several addresses linked to the North-Korean hacking syndicate while Coinex provided Bybit’s team with key insights.
ChangeNow froze 34 ETH ($97,000) in addresses linked to the hack while the Avalanche restricted access to 0.38755 BTC ($37,124). Lightning Network-based exchange FixedFloat froze 120,000 in USDC and USDT stablecoins, mirroring the efforts of Bitget and other centralized exchanges.
“Respect to their teams for their timely responses,” said Bybit on X. “They helped us monito
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